Mark Mobius highlighted that domestic investors lead the Indian market, despite challenges for foreign investments due to bureaucracy and tax issues. He expressed confidence in India's potential, particularly in large-cap stocks and hardware sectors. He also advised investing in companies with strong balance sheets and keeping cash reserves for market corrections.
The IPO is entirely an offer for sale (OFS) of up to 2.56 crore shares with a face value of Re 1 per share. Under the OFS, AceVector Ltd and SB Investment Holdings (UK) will be offloading their part stakes. Since the IPO is completely an OFS, the company will not receive any proceeds from the issue.
The Rouse Avenue Court in Delhi has extended Chief Minister Arvind Kejriwal's judicial custody till August 20 regarding the defunct Delhi Excise Policy. Previously, the Delhi High Court supported his CBI arrest and advised the AAP supremo to file a new bail plea in trial court.
Axis Securities highlighted Prestige Estates' strong financial performance and diversified business model. With record pre-sales and collections in FY24, Prestige eyes significant free cash flows from ongoing and upcoming projects. The company's projected launch for FY25 is expected to bring Rs 59,000 crore in revenue, maintaining a debt-to-equity ratio of 0.66.
The Madhya Pradesh High Court dismissed the Waqf Board's claims on ASI-protected monuments in Burhanpur. Union Minister Kiren Rijiju introduced the Waqf (Amendment) Bill, 2024, proposing key changes such as repealing Section 40 and increasing women's representation in Waqf boards. The amendments faced opposition from several parties and organizations.
Vedanta Ltd. has put its steel business plan on hold after a $1 billion share sale, which allowed the company more financial flexibility and drew attention to environmental and regulatory concerns. The company had been working with advisers to raise $2.5 billion to reduce its debt load. Vedanta's billion-dollar fundraising through a share placement last month has eased some of the debt pressure and reduced the need to sell.
For mutual fund investors, an unchanged repo rate amid high food inflation and global market volatility offers a mixed opportunity. Debt fund investors can expect stable yields and potential gains from anticipated rate cuts. Equity investors should focus on sectors that are resilient to inflation and market fluctuations. Hybrid funds provide a balanced strategy, reducing risks from both debt and equity markets.
Mirabai Chanu (Google Trends): Saikhom Mirabai Chanu, India's celebrated weightlifter and Tokyo Olympics silver medallist, placed fourth in the women's 49 kg event at the Paris Games. She cited weakness from her menstrual cycle as a factor in her performance. Mirabai lifted a total of 199 kg, missing the podium by a small margin.
In Russia, YouTube encountered major access problems, prompting users to switch to VPNs to access the site. Monitoring service Sboi.rf reported thousands of glitches, and Reuters had difficulty accessing YouTube. The situation unfolded amid rising criticism from Russian authorities and claims that Google was responsible for slowed download speeds.
The monkeypox virus is spreading swiftly across African nations, causing significant concern among health authorities. Initially reported in the Democratic Republic of the Congo (DRC), it has now reached Uganda and Kenya. The World Health Organization (WHO) is considering declaring a global health emergency as cases surge. Efforts to control the outbreak face funding challenges, despite $10.4 million allocated from COVID funds. Nearly 27,000 cases and over 1,100 deaths have been reported in the DRC this year.
Risk and return must always go hand-in-hand. As an investor, you must understand what are these risks and which risk suits you to be an aware investor
According to Prime Database, around 10 companies saw the highest decrease in mutual fund (MF) holdings in the June quarter. Here is the list.
Sensex and Nifty traded lower on Thursday in a highly volatile market. This decline followed the Reserve Bank of India's decision to keep interest rates unchanged while maintaining a hawkish stance due to persistently high food inflation.
Bangladeshi actor Shanto Khan and his father Selim Khan were lynched in Chandpur following Prime Minister Sheikh Hasina's resignation and the unrest that ensued. Selim, an expelled Awami League member and owner of a production house, and his actor son faced violent retribution. The Bengali film community expressed their grief over their deaths.
Mark Mobius indicated that despite some reduction, yen carry trade excesses still persisted in the system. He noted global uncertainty, driven by geopolitical tensions and upcoming US elections. Mobius also highlighted the potential for a US recession due to a decreased money supply. Investors might consider holding cash for future opportunities, with India showing promising growth.
The MF holding stood at Rs 39.59 lakh crore as on June, 2024, an increase of 16.49% over the last quarter. Top 10 companies with the highest MF holding in rupee value terms.
Rajya Sabha Chairman Jagdeep Dhankhar left the House after heated clashes with Opposition MPs who were not allowed to raise the issue of Vinesh Phogat's disqualification from the Paris Olympics. The issue began when Opposition Leader Mallikarjun Kharge sought to raise the issue, but Chairman Dhankhar did not allow it. The uproar continued, leading to a walkout by Opposition parties. Leader of the House and BJP president J P Nadda condemned the behavior of Opposition members towards the Chair and... Читать дальше...
RVNL Q1 Results: State-owned RVNL reported a 35% drop in cons net profit to Rs 224 crore for Q1 June 2024, down from Rs 343 crore in the same quarter last year. Revenue from operations fell 27% to Rs 4,074 crore from Rs 5,572 crore year-over-year. Sequentially, net profit decreased 53% from Rs 478 crore in the March 2024 quarter, while revenue dropped 39% from Rs 6,714 crore.
Sheikh Hasina, who stepped down as prime minister of Bangladesh and left the country, will return once democracy is restored, her son Sajeeb Wazed Joy confirmed on Thursday. Joy accused Pakistan's intelligence agency, ISI, of exacerbating the current turmoil in Bangladesh. The timeline for Hasina's return and her future political role remain undecided.
Kotak Institutional Equities downgraded PB Fintech to 'reduce' despite a profit of Rs 60 crore in the June quarter, citing high valuations. Jefferies maintained a 'buy' rating with a target of Rs 1,500, while Nuvama increased revenue estimates but lowered margin expectations and set a target of Rs 1,370.
Promoters consistently increase stake in these 7 stocks, price rise up to 160% in a year
Mercedes-Benz has introduced the CLE Cabriolet and AMG GLC 43 4Matic Coupe in India, featuring premium designs and advanced tech. The CLE sports a 255hp turbo engine, while the GLC 43 offers 416hp. Both vehicles are packed with luxury features to appeal to discerning buyers. They are part of Mercedes' plan to launch six new models this year.
PR Sreejesh, the 36-year-old Indian goalkeeper, will represent India on the international stage in Thursday's match against Spain at the Paris Olympics. Sreejesh, known as 'the wall', has featured in four Olympics and won a bronze medal at the Tokyo Olympics. He expressed gratitude and pride for India's support and the crowd's roar. India lost to Germany in the semifinals and is aiming for a podium finish in the bronze medal match against Spain.